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're less than a month away from massive layoffs and cuts in spending at the pentagon and elsewhere. nancy cordes is on capitol hill. >> reporter: good morning. they call this the sequester and both signs long predicted it could harm the economy if the cuts are allowed to kick in. instead of working together to do something about it they resorted to the blame game a month before the deadline. republicans may be the party of spending cuts but on monday house speaker john boehner insisted the looming sequester was the president's idea. >> the president first proposed this sequester in 2011 and insisted that it be part of the debt limit agreement. >> reporter: unless congress acts the package of cuts worth $1.2 trillion will start to kick in march 1st, taking a $55 billion bite out of this year's defense budget and $27 billion from domestic discretionary spending. according to the congressional budget office more than 1 million jobs are at risk. defense secretary leon panetta had this warning. >> we are going to weaken the united states and make it much more difficult t
be affected. that means 700,000 of the 800,000 who work for the pentagon. >> on our civilians it will be catastrophic. >> reporter: civilians like sue ann falkenburg a single mom 3,000 miles away in california. i would have to get a part-time job to support my family. >> reporter: falkenburg is worried about the pay cut or furlough. >> i can't exactly call my landlord and say, hey, i got a 20% cut in my salary can you reduce the rent for 20%? >> reporter: it's not just the pentagon. dozens of cuts including the fbi will have to make difficult choices. >> the fbi will have to be in a position to evaluate where the reductions will come from and that may impact the national security arena. >> reporter: the democrats' congressional campaign committee also goes on the offensive today. they will accuse republican of risking 700,000 jobs in order to protect special interest tax loopholes. >>> a total disaster that's what one walmart executive reportedly wrote about a plunge in sales. its it's announcing its report this morning. rebecca jarvis is here this
say that means as many as 700,000 of the 800,000 civilians who work for the pentagon. >> this is not a beltway phenomenon. on our civilians it will be catastrophic. >> reporter: civilians like sue ann fallenberg a single mom and administrative assistant at a naval school 3,000 miles away from washington in monterey california. >> i would have to get a part-time job to support my family. >> reporter: she is worryied about the 20% pay cut if she's furloughed or put on involuntary pay one day a week. >> can you reduce the rent for 20%? i can't say that. >> reporter: and it's not just cuts to the pentagon dozens of agencies including the fbi will also have to make difficult choices. >> the fbi would be in the position of having to evaluate where those reductions can come from, and that may impact in the national security arena. >> reporter: the president will continue in coming days to highlight the hardships to individuals and to the public at large if the cuts take place. democrats congressional campaign committee also goes on the offensive today.
. and the funding cuts gethit just one week from today. with the pentagon and other departments already in crisis mode, the white house oannounced thursday the president phoned mitch mcconnell and house speaker john boehner but deliberately avoided saying more. was it simply to restate his position or to reach out to them in the interests of compromise? >> the president spoke with senator mcconnell and the speaker. i have no content to read out to you of those conversations. >> reporter: the two republican leaders pointed out this was the first time the president has reached out to them on the topic of the automatic cuts in two months since the end of 2012. the sequester is set to kick in a week from today will mean $1.2 trillion in across the board cuts. thursday, mr. obama argued to friendly radio hosts that republicans are standing in his way for the wrong reasons. >> their basic view is that nothing is important enough to raise taxes on wealthy individuals or corporations and they would prefer to see these kinds of cuts and that's the thing that binds their party togethe
lead to layoffs of employees at the pentagon and elsewhere. we have more from capitol hill. nancy, good morning. >> reporter: good morning, charlie and nora. around here, congress likes to call those cuts the sequester. and both sides have long predicted it could harm the economy if the cuts are allowed to kick in. instead of working together to do something about it, they've resorted to the blame game a month before the deadline. republicans may be the party of spending cuts, but on monday, house speaker john boehner insisted the looming sequester was the president's idea. >> the president first proposed this sequester in 2011 and insisted that it be part of the debt limit agreement. >> reporter: unless congress acts, the package of cuts worth $1.2 trillion, will start to kick in on march 1 taking a $55 billion bite out of this year's defense budget and $27 billion from domestic discretionary spending. according to the congressional budget office, more than a million jobs are at risk. defense secretary leon panetta had this warning -- >> we are going to weaken the united states and mak
Search Results 0 to 4 of about 5